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Eric King:  “Rick, last time we interviewed you said, “I am a terrified observer as I watch the end game drawing to a close.”


Rule:  “The narrative between 2009 and today is really unchanged.  What has changed is the relative price levels of assets.  The truth is that the set of circumstances which are in front of us, and the set of circumstances that we as a society are facing is quite disturbing....


Continue reading the Rick Rule interview below...




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“Right now it appears that investors, both institutional and retail, are unconcerned about things like aggregate debt levels, and quantitive easing -- which is counterfeiting.  They are also unconcerned about the race to devalue currencies around the world.


But they also seem unconcerned about an alleged recovery in the United States, which doesn’t have jobs as part of the recovery, and a phony CPI level (inflation).  It is preposterous when the government tells us we only have inflation of 2.2% in the United States.  It is in fact reported by ShadowStats to be at 9%.


The fact that there is a deliberate policy on behalf of policymakers to mislead us as to the nature of inflation is concerning to me.  And while I am expressing concerns, the entire set of circumstances that led up to the 2008-style collapse, would also appear to be with us today, with the sole exception of system-wide liquidity.


But the fact that we have system-wide liquidity has allowed a complete replay of the circumstances that led up to the 2008 collapse.  The system is way too over-leveraged on a global basis.  It is also very apparent to me that the ability of the financial system to recover from an asymmetric shock, a black swan, is less than it was back in 2008.


When I think about the number of things that could create a shock, there are too many to list.  But when I think about our ability to withstand the shock, given the bullets we fired at the beast last time -- such as oceans of fiat currency or massive liquidity -- are bullets that we’ve already fired, one wonders how far we can push on that string the next time around.


In this incredibly fragile and, unfortunately, ‘Orwellian’ environment, investors are being bombarded with mainstream media propaganda every day about how things have changed since 2008, but I don’t believe it has changed, with the exception of liquidity in the system.  This is why I say I am a terrified observer as I watch the end game drawing to a close.  If chaos erupts this time around, there may be no stopping it.”


© 2013 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.


The audio interviews with Egon von Greyerz, Bill Fleckenstein, David Stockman, Robin Griffiths, Jim Grant, Gerald Celente, William Kaye, Dr. Paul Craig Roberts, Chris Powell, Michael Pento, Eric Sprott and Grant Williams are available now. Also, other recent KWN interviews include Marc Faber and Felix Zulauf to listen CLICKING HERE.


Eric King

KingWorldNews.com

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